PSX sets new record, closing at 81,155 after 1,211-point jump

KARACHI: The Pakistan Stock Exchange (PSX) began the week on a strong note following the announcement of a $7 billion loan deal with the International Monetary Fund (IMF) over the weekend.

The benchmark KSE-100 Index surged by 1,211.51 points, or 1.52 per cent, closing at a record high of 81,155.60. This significant rise reflects investor confidence in the country’s economic prospects following the IMF agreement.

In a statement, the IMF highlighted that the new loan program aims to build on the macroeconomic stability Pakistan has achieved over the past year. The funds are expected to bolster the nation’s financial stability and support ongoing economic reforms.

During today’s trading session, the KSE-100 Index fluctuated within a range of 684.97 points, hitting an intraday high of 81,428.43 points (+1,484.34) and a low of 80,743.46 points (+799.37). The total volume traded for the KSE-100 Index was 219.58 million shares.

Of the 100 companies listed on the index, 65 closed higher, 30 closed lower, and 5 remained unchanged. The sectors driving the index higher included Commercial Banks (+295.96 points), Fertilizer (+203.92 points), Oil & Gas Exploration Companies (+193.68 points), Technology & Communication (+165.01 points), and Cement (+124.38 points).

Conversely, sectors that weighed on the index were Tobacco (-20.20 points), Refinery (-4.40 points), Paper, Board & Packaging (-2.88 points), Transport (-2.30 points), and Textile Spinning (-1.42 points).

Notable contributors to the index’s gains were Systems Limited (SYS) (+128.69 points), MCB Bank (MCB) (+118.31 points), Fauji Fertilizer Company (FFC) (+102.91 points), Pakistan Oilfields (POL) (+92.25 points), and Hub Power Company (HUBC) (+84.24 points).

On the downside, significant detractors included National Bank of Pakistan (NBP) (-25.45 points), Faysal Bank (FABL) (-21.50 points), Pakistan Tobacco Company (PAKT) (-20.20 points), Pakistan General Insurance (PKGP) (-15.30 points), and Millat Tractors (MTL) (-8.19 points).

The broader market also saw gains, with the All-Share Index closing at 51,473.90 points, up by 467.55 points or 0.92 per cent. The total market volume was 441.34 million shares, up from the previous session’s 437.32 million shares, with a traded value of Rs27.23 billion, an increase of Rs3.74 billion.

It is noteworthy that the stock market will be closed for the next two days in observance of Ashura.

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